| Indicator | 4H | 1D | 1W |
|---|---|---|---|
| MACD(12;26;9) | Sell | Sell | Sell |
| RSI(14) | Neutral | Buy | Neutral |
| Stochastic(5;3;3) | Neutral | Neutral | Buy |
| Alligator(13;8;5) | Sell | Sell | Sell |
| SAR(0.02;0.2) | Sell | Sell | Sell |
| Aggregate | ⇘ | ⇘ | ⇘ |
The Eurozone single currency has continued to decline in a five-week descending channel pattern against the New Zealand Dollar. The currency pair fell by 1.23% during last week's trading session.
Currently, the exchange rate is trading near the upper boundary of the five weeks descending channel and could be set for a breakout.
If the breakout occurs, a surge towards the weekly resistance level at 1.7207 could be expected within this week's trading sessions.
However, if the channel pattern holds, bears might continue to pressure the currency exchange rate lower during the following trading sessions.